BUSINESS

Rupee rises to 1-1/2 month high on foreign fund inflows

7:03 pm December 8, 2020

Mumbai: The rupee surged by 30 paise to settle at a one-and-a-half month high of 73.60 against the US dollar on Tuesday, buoyed by foreign fund inflows and heavy buying in domestic equities. At the interbank forex market, the domestic unit opened at 73.83 against the US dollar and witnessed an intra-day high of 73.59 […]

Hike in contactless transaction limit to further digital drive: Industry

8:08 pm December 4, 2020

New Delhi : The RBI allowing a higher contactless transaction limit of Rs 5,000 against Rs 2,000 currently will drive digital payments further in the country and shows the central bank’s commitment to promote a less-cash economy, industry players said on Friday. The Reserve Bank at its bi-monthly monetary policy proposed to enhance the contactless […]

Sebi orders attachment of bank, demat accounts of Aspen Industries, 4 others

4:33 pm December 4, 2020

New Delhi: Markets regulator Sebi has ordered attachment of bank and Demat accounts of Aspen Industries and four others to recover Rs 2.84 crore. The recovery proceedings have been initiated against them after they failed to repay investors’ money as directed by the Securities and Exchange Board of India (Sebi) in July 2017. The company raised funds […]

RBI expects positive growth in second half of 2020-21

3:10 pm December 4, 2020

Mumbai: Reserve Bank of India (RBI) on Friday said it expects the economy to record positive growth in the second half of the current financial year. The economy contracted by 23.9 per cent in the first quarter and 7.5 per cent in the second quarter on account of the COVID-19 pandemic. “The second half is […]

Flipkart expands benefits for sellers under 'Growth Capital' programme

Flipkart partially spins off PhonePe, Binny Bansal to join board of fintech co

11:43 pm December 3, 2020

New Delhi: E-commerce major Flipkart on Thursday announced a “partial spin-off” of PhonePe as the digital payment firm raises USD 700 million in funding, valuing it at USD 5.5 billion. Flipkart co-founder Binny Bansal will join PhonePe’s board of directors, along with the fintech company’s co-founders Sameer Nigam and Rahul Chari. In this financing round, PhonePe is raising USD […]